CV Advisors LLC acquired a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,000 shares of the company’s stock, valued at approximately $214,000.
A number of other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC boosted its position in Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after acquiring an additional 407,389 shares during the period. Geode Capital Management LLC boosted its position in Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares during the period. State Street Corp boosted its position in Rigetti Computing by 12.9% during the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after acquiring an additional 309,831 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Rigetti Computing by 15.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,329,590 shares of the company’s stock worth $20,290,000 after acquiring an additional 179,656 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Rigetti Computing by 27.4% during the 4th quarter. Bank of New York Mellon Corp now owns 446,692 shares of the company’s stock worth $6,817,000 after acquiring an additional 96,099 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Rigetti Computing Stock Up 28.2 %
Shares of RGTI stock opened at $11.22 on Friday. The stock’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -29.53 and a beta of 1.37.
Wall Street Analysts Forecast Growth
RGTI has been the subject of a number of research reports. Benchmark restated a “buy” rating and set a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday, March 6th. Craig Hallum started coverage on Rigetti Computing in a report on Friday, December 20th. They set a “buy” rating and a $12.00 price target for the company. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target on shares of Rigetti Computing in a report on Thursday, March 6th. Finally, B. Riley lifted their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $14.50.
Get Our Latest Stock Report on RGTI
Insider Activity at Rigetti Computing
In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total value of $2,729,851.60. Following the transaction, the chief technology officer now directly owns 1,094,738 shares of the company’s stock, valued at $8,495,166.88. The trade was a 24.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.81% of the stock is owned by company insiders.
Rigetti Computing Company Profile
Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.
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